IRCTC Q1 Results: Net profit increases by 32%
While catering contributed nearly half of IRCTC's quarterly revenue, nearly 30% of the topline came from the ticketing business.
Indian Railways Catering and Tourism Corporation (IRCTC) Ltd has reported June quarter results and shares of the company are marginally increased by 2%. The company’s net profit for the quarter increased by 32.5% to Rs 307.7 crore from Rs 232 crore of the previous year. Revenue is increased by 11.8% year-on-year to Rs 1,120.2 crore.
Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) increased by 9.3% to Rs 375 crore but margins narrowed to 33.5% from 34.2% from last year.
While catering contributed nearly half of IRCTC's quarterly revenue, nearly 30% of the topline came from the ticketing business.
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The revenue for the Rail Neer business increased compared to both the previous year and the previous quarter. However, the revenue for the tourism business decreased compared to the previous year and almost halved when compared to the March quarter. It fell to Rs 124 crore from Rs 201 crore in March and Rs 142 crore in the same quarter last year.
Internet Ticketing, the second-largest business, saw revenue increase to Rs 329 crore from Rs 290 crore last year. However, the revenue declined marginally from the Rs 342 crore figure it had reported in the March quarter.
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